Sep 28, 2010 (Datamonitor via COMTEX) --
Stolt-Nielsen, a shipping company, has announced that its wholly owned subsidiary Stolt Bitumen Services, or SBS, signed an agreement with Nanjing East Star Shipbuilding in China for the purchase of up to four 3,500 deadweight ton bitumen tanker newbuildings due for delivery from March 2012.
Under the terms of the agreement, SBS has placed firm orders for two ships and holds options to purchase two additional ships.
Niels Stolt-Nielsen, CEO of Stolt-Nielsen, said: "Our bitumen fleet newbuilding program is part of SBS's ongoing development of a distribution network in Asia-Pacific, including terminals, bitumen tankers and bitutainers. With the addition of these new high quality newbuildings, SBS will operate four bitumen tankers to meet the growing transportation requirements of our customers."
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